Mitsui Sumitomo Insurance will begin selling space travel insurance in April.
This product is dedicated to “suborbital travel,” in which passengers depart from the ground, ascend to outer space at an altitude of around 100 kilometers, and then return to Earth without orbiting the planet. It was developed in collaboration with the Japan Aerospace Exploration Agency (JAXA).
The policy covers travelers from the time they leave their home, throughout their space trip, until they return home. It provides coverage for death or permanent disability due to injury or illness on the ground or during space travel, medical treatment costs incurred during the trip, damage to personal belongings carried by the traveler, and liability for damages to third parties.
In the future, the company is also considering developing insurance products for “long‑stay space travel,” including stays on the International Space Station (ISS) and commercial space stations, as well as multi‑day orbital trips that circle the Earth.
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